This form is designed to help you determine an hourly rate for your services. It can be used by financial planners in all pricing models, whether you charge by the hour, charge by assets under management or charge by the project. Your time is your most important expense so an hourly rate can help you determine if a project or a client adds value to your practice based on objective criteria. Fill in all the YELLOW fields. The form does all the calculations.
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Target Pre-tax Income (net income before taxes) | |||
Expenses | |||
Paraplanner Support | |||
Administrative Support | |||
Office and Furnishings | |||
Technology & Communication | |||
Travel and Entertainment | |||
Memberships | |||
Marketing | |||
Professional Development/CE | |||
Consultants | |||
Other | |||
Total | |||
Billable Hours Calculation | |||
Work Hours per Year (hrs/wk) | x | ||
Vacation/Holidays (wks/yr) | x | ||
Sick Time (days/yr) | x | ||
Administrative Time (hrs/wk) | x | ||
Marketing Time (hrs/wk) | x | ||
Prof. Activities (hrs/wk) | x | ||
Other (hours) | |||
Total Billable Hours | |||
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Break Even Hourly Rate
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Total Expenses/Total Billable Hours | |||
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Target Pre-tax Income Hourly Rate
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(Target Income + Total Expenses)/Total Billable Hours | |||
Pricing Worksheet
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Rate
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Adjusted Rate |
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Hourly Rate for Attorneys | |||
Hourly Rate for Accountants | |||
Hourly Rate for Financial Advisors | |||
Average of Market Rates | |||
Hourly Rate for Income Target | |||
Hourly Rate for Break-even | |||
Hourly Rate | |||
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